|Bid||142.08 x 800|
|Ask||142.09 x 900|
|Day's Range||141.52 - 145.95|
|52 Week Range||103.29 - 198.99|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 24, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||164.36|
Soundtrap, the cloud-based editing tool for music and podcasts, has decided tothrow in free unlimited storage for its non-paying members
Streaming services are driving growth in the music industry as questions persist about whether artists and songwriters are getting their fair share of the pie.
(Bloomberg) -- YouTube said it will let users override automated recommendations after criticism over how the online video service suggests and filters toxic clips."Although we try our best to suggest videos you’ll enjoy, we don’t always get it right, so we are giving you more controls for when we don’t," Essam El-Dardiry, a product manager at YouTube, wrote in a blog on Wednesday.Users will now be able to tell YouTube to stop suggesting videos from a particular channel by tapping the three-dot menu next to a video on the homepage or Up Next, then choosing “Don’t recommend channel.” After that, viewers should no longer see videos from that channel, El-Dardiry said.The move comes after Susan Wojcicki and other YouTube executives were criticized for being either unable or unwilling to act on internal warnings about extreme and misleading videos because they were too focused on increasing viewing time and other measures of engagement.While YouTube is introducing the feature now, this kind of tool is pretty common place on other digital services. Spotify Technology SA has a version for artists people don’t want to hear from.YouTube, part of Alphabet Inc.’s Google, will also try to explain how videos are recommended."Sometimes, we recommend videos from channels you haven’t seen before based on what other viewers with similar interests have liked and watched in the past. When we’re suggesting videos based on this, you’ll now see more information underneath the video in a small box," El-Dardiry wrote. "Our goal is to explain why these videos surface on your homepage in order to help you find videos from new channels you might like."To contact the reporters on this story: Lucas Shaw in Los Angeles at firstname.lastname@example.org;Gerrit De Vynck in New York at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Alistair Barr, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Last week, Facebook (FB) and other founding members of the Libra Association launched Libra. Libra will be governed by a handful of large organizations including Uber (UBER), Lyft (LYFT), Visa (V), and Mastercard (MA). By the planned launch in 2020, Facebook expects to have 100 members in the governing body.
While the latter have soared since their April debuts by 41% and 29%, respectively, Dropbox is down 15% since its offering in March of last year, and Spotify is basically flat with last year's debut, a period over which the Nasdaq Composite has risen 10%. Spotify's stock has handily beaten the averages, up 27%, year to date. Dropbox is up a tad lower than the Nasdaq this year, up 17%.
Out of 27 analysts covering Spotify (SPOT), 17 recommend a “buy,” seven recommend a “hold,” and three recommend a “sell.” Analysts have a 12-month median target estimate of $152.25, which means that the stock is trading at a discount of 1.5% from its current price.
Evercore analyst Kevin Rippey downgraded Spotify (SPOT) stock from “in-line” to “underperform” on June 24. Rippey claimed that it would be difficult for Spotify to improve gross margins in the coming quarters and the company would miss analyst earnings estimates.
Streaming has given a new lease of life to the recorded music industry. Take Vivendi's poptastic Universal Music Group. Its revenues from subscriptions and streaming grew 28.1 per cent year-on-year in the first quarter of 2019, netting the Bolloré-owned business €737m, just under half of its revenues.
A Wall Street brokerage on Monday turned negative on streaming music leader Spotify, saying expectations for gross profit margin are "overly optimistic." Spotify stock wavered on the news.
on Monday recovered after dropping a bit as Evercore downgraded the Stockholm music-streaming company to underperform from in-line. The stock's recent rally indicates that investors are overoptimistic about how gross margin will develop and about the outcome of negotiations with music labels, analyst Kevin Rippey in New York said in a June 24 report. Spotify on Monday closed 1.2% higher at $150.12 on the New York Stock Exchange.
Cupertino-based Apple Inc. is hiring a former Electronic Arts Inc. executive to lead marketing at Beats by Dre, the premium headphones company Apple purchased in 2014 for $3 billion.
Streaming music company Spotify Technology SA (NYSE: SPOT ) should be able to match the Street's user and revenue estimates, according to Evercore ISI, but three main concerns prompted the sell-side to ...
Premium customers pay a monthly fee or are in a free trial of Spotify's premium service, which is ad free. Spotify has a total of 217 million customers including users of its free service. Apple competes directly with Spotify with its Apple Music service.
Evercore says investors are overestimating Spotify’s ability to make money from podcasts and offering services to musicians and are underestimating the competition from other streaming services.
Spotify Technology SA shares are down 3.7% in premarket trading Monday after Evercore ISI analyst Kevin Rippey downgraded the stock to underperform from in-line. "We simply do not see a path by which Spotify can generate the level of gross profit demanded by Street estimates over the medium-term," he wrote. "Consumers enjoy streaming music, and there's little content differentiation between platforms. Therefore, labels' willingness to cede economics to Spotify in a manner that would satisfy estimates is very limited in our view." Rippey also argued that Spotify might see smaller-than-expected upside from newer initiatives like paid promotions and podcasts. He lowered his price target on the shares to $110 from $125. Spotify's stock has gained 31% so far this year, as the S&P 500 has risen 18%.
As one European VC raises a fund to double down on bigger growth rounds inEurope, another has closed a fund to continue focusing on early-stageinvestments
(Bloomberg) -- Creandum, an early investor in Spotify Technology SA and iZettle AB, has raised a 265 million euro ($300 million) fund, in a bid to find and back Europe’s next tech superstars.With offices in Stockholm, Berlin and San Francisco, the venture capital fund returned more than $800 million to investors last year after exits from previous investments, such as Spotify, which went public on the New York Stock Exchange, and Small Giant Games, which was acquired by Zynga Inc.With it’s fifth and latest fund, Creandum will continue to target early-stage investments in so-called seed and A rounds in areas including food, health tech, mobility, fintech as well as logistics, manufacturing software and energy."We try to continue to stay small, despite a chance to raise more money," Johan Brenner, the general partner at Creandum, said in an interview, adding the fund’s backers are comprised of 26 investors, including pension funds, endowments and family offices in Europe, the U.S. and Asia.Creandum turned away some investors to keep the fund small, Brenner says, adding that it would help "to focus on the early stage, where we think the best investments can be made and the best returns can be made for our investors."While a larger fund would allow the firm to make many more small investments, Creandum wouldn’t have the time to support the investments and the management, resulting in lower returns, Brenner said. Creandum said it has already made some investments through the new fund that are yet to be announced.Creandum’s fund size compares to peers that have raised much larger pools of capital. Accel, an early investor in Slack Technologies Inc., in May announced it has raised a $575 million fund aimed at nascent companies in Europe and Israel. While European insurer Allianz SE unveiled in February it was increasing the size of its tech investment fund to 1 billion euros.The Creandum II fund, which started in 2007, has returned about 1,000 percent. The fund in May 2018 sold its stake in iZettle to PayPal Holdings Inc. It was also one of the first institutional investors in Spotify in 2008.(Added context on Creandum II fund.)To contact the reporter on this story: Natalia Drozdiak in Brussels at email@example.comTo contact the editors responsible for this story: Giles Turner at firstname.lastname@example.org, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.